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Do you prefer individual health insurance policy over family floater ones? If you are planning to buy an individual health insurance plan, check its features and benefits here in this blog.
Individual Health Insurance plans refer to the ones that offer health coverage to the insured on an individual basis as opposed to a family floater basis. Here, the insured can get coverage against the costs incurred towards upholding the overall health security of the person.
Under individual health insurance, the insured gets hospitalization expenses covered as per the sum insured. Individual plans need to be bought individually for every member of the family, unlike the family floater plans. Hence, you have the liberty to modify your health plan as per your requirement and health condition.
Here are some features of an individual health insurance policy:
Here are some benefits of the individual health insurance policy:
These Insurance allow only the insured person to avail benefits of the plan. So, if you are looking to buy a policy for the entire family, you must look for family floater plans as compared to individual plans. This is because your individual plan cannot be used for any other person besides the insured.
Under the individual health insurance plans, the insurer allows the individuals or the insured to gain benefit from individual sum assured. Since this policy caters to single people, it works on the principle of individual sum assured as compared to the family floater basis.
Individual health plans work for people who want multiple coverage against greater health risks.
Since there is no restriction of maximum age for people to buy these policies, one can continue to avail benefits under these plans by renewing it on time every time.
Further, under individual insurance the insured can make multiple claims within a year since the policy caters to one person only and you do not have to share it with anyone.
Here are the best health insurance companies for individuals:
Here are the steps to buy Individual Health Insurance:
Individual health insurance plans allow coverage to individuals for their health as per the sum insured. Under these plans each family member gets protection on an individual basis. Thus, in an individual health insurance plan, only the policyholder is covered and receives protection. Health insurance for low income individuals is also available.
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